Precigen (NASDAQ:PGEN – Get Free Report) was upgraded by B. Riley Financial to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.
A number of other research analysts also recently commented on the company. HC Wainwright increased their price objective on Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. Wall Street Zen raised Precigen from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Zacks Research upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $13.67.
Read Our Latest Analysis on Precigen
Precigen Stock Performance
Precigen (NASDAQ:PGEN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $54.98 million for the quarter, compared to analysts’ expectations of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.The firm’s quarterly revenue was up 6322.7% on a year-over-year basis. Sell-side analysts predict that Precigen will post 0.25 earnings per share for the current fiscal year.
Insider Buying and Selling at Precigen
In other Precigen news, Director Jeffrey Kindler sold 185,000 shares of Precigen stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total value of $1,376,400.00. Following the transaction, the director directly owned 17,100 shares in the company, valued at approximately $127,224. The trade was a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Helen Sabzevari sold 346,836 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $5.89, for a total transaction of $2,042,864.04. Following the sale, the chief executive officer owned 3,768,872 shares of the company’s stock, valued at $22,198,656.08. This trade represents a 8.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 991,271 shares of company stock valued at $6,208,620. Company insiders own 41.40% of the company’s stock.
Institutional Trading of Precigen
Hedge funds have recently added to or reduced their stakes in the stock. Patient Capital Management LLC purchased a new position in shares of Precigen in the 2nd quarter valued at approximately $108,511,000. BlackRock Inc. acquired a new position in shares of Precigen in the second quarter valued at approximately $97,737,000. Occam Crest Management LP raised its stake in shares of Precigen by 29.6% during the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after purchasing an additional 799,339 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Precigen during the second quarter worth $10,536,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Precigen by 9.2% during the second quarter. Wellington Management Group LLP now owns 555,230 shares of the biotechnology company’s stock worth $3,165,000 after purchasing an additional 46,796 shares during the period. 33.51% of the stock is owned by institutional investors and hedge funds.
About Precigen
Precigen, Inc (NASDAQ:PGEN) is a biotechnology company focused on developing gene and cell therapies for cancer and other serious diseases. The company uses its synthetic biology platforms to engineer targeted medicines designed to improve treatment effectiveness, durability and safety.
Precigen’s technology portfolio includes its UltraCAR-T platform for developing next-generation CAR-T cell therapies, the AdenoVerse platform for gene delivery and immunotherapy applications, and ActoBiotics technology for the localized delivery of therapeutic proteins.
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